U.S. processed food manufacturers look East for growth opportunities
Dairy producers also stand to benefit from economic trends in major export markets such as China.
U.S. shipments of processed foods are forecast to reach $808 billion in 2021, according to “Processed Food: United States,” a report released by Freedonia Focus Reports, Cleveland, Ohio. Dairy products are expected to post the fastest shipments growth, due to consumer demand for snacks with more natural ingredients and higher amounts of protein.
Dairy producers also stand to benefit from economic trends in major export markets such as China. Dry, condensed and evaporated products dominate exports in the dairy segment. After a series of food safety scandals, many consumers in China came to rely on international brands due to their reputation for quality. Exports also represent a key driver of growth for meat, poultry and seafood suppliers, especially as trade restrictions are lifted in key markets such as Japan and South Korea.
This report forecasts U.S. processed food shipments in U.S. dollars at the manufacturers' level to 2021.